BY MICHAEL EBOH
…Airports pay N130m, banks’ branches – N85,000 monthly…PHCN, conduit pipe for looting – customers
The Federal Government through the Power Holding Company of Nigeria, PHCN, is fleecing Nigerians of about N3.41 trillion ($19.6 billion) annually through outrageous electricity bills, which is not commensurate with the amount of power supplied to consumers.
According to investigations by Sweetcrude, PHCN collects about N1.04 trillion annually from households in Nigeria, N2.074 trillion annually from Micro Small and Medium scale Enterprises, MSMEs; N2.86 billion from the 22 federal airports across the country and N3.4 billion from banks and other large scale enterprises.
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